1992 (3) TMI 36

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..... rused the order of the Commissioner of Income-tax and, after taking into consideration the affidavit in reply filed by her, we are of the opinion that, on the facts and circumstances of this case, no interference under article 226 of the Constitution is called for. It has been, inter alia, contended that full co-operation was extended in the present case and the Commissioner is wrong in rejecting .....

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..... as adverted to the fact that a list of shareholders representing the extent of the amount disclosed has not been furnished. She held that there was lack of co-operation by the assessee. It has been contended by learned counsel for the petitioner that such a list was not demanded by the assessing authority. In the reply affidavit, it has been stated that a complete list along with confirmation wa .....

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..... ection 273A(1)(b) would take place only when a revised list of shareholders is furnished indicating the extent of shares voluntarily allotted to the persons whose names are contained in the list. In our opinion, the conclusion arrived at by the Commissioner of Income-tax cannot be held to be an unreasonable or incorrect one. It was contended by Mr. Syali that, according to the Explanation, the .....

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